The covid did not infect the business of Gismondi 1754, a Genoese jewelery company listed on the Italian Stock Exchange on the Aim list. The data relating to the first nine months, in fact, indicate results in contrast with the trends in the sector. As at 30 September, Gismondi 1754 shows, in fact, a growing turnover, consolidating its brand on the market. Consolidated revenues in the first nine months amounted to € 3.4 million, up + 7%, compared to the 3.2 recorded in the corresponding period in 2019. The third quarter of 2020, in particular, grew by 9% compared to to the third quarter of 2019. A result that the company attributes to the wholesales channel at European level, which recorded a growth of 239% for revenues equal to 83,304 euros, the S. Moritz store, which recorded + 141% of corresponding sales and special sales, a strong point and distinctive element of Gismondi 1754’s offer.
In a note, the company specifies that analyzing revenues by geographical area, as at 30 September 2020 the incidence on the consolidated management turnover is growing across the board with respect to all the markets in which Gismondi 1754 operates, with particular mention for the US market ( equal to 43% of turnover) and the Italian market (equal to 14% of revenues). The USA and Europe are confirmed as the areas that have the greatest impact on the Group’s turnover, but the Russian market and the Middle East are also gradually establishing themselves, both with an incidence of 7%. The rest of the countries are worth 10% of consolidated turnover overall.
We are very satisfied because these results are part of a very difficult market context globally and in a sector, that of luxury, which is recording widespread losses overall. Gismondi 1754 grows against the trend and for this reason the value of + 7% in the first 9 months of 2020 acquires an even more significant value because, beyond the economic aspect, the Company today has its own recognisability that allows us to maintain our standards without compromising our characterizing principles, both in the artisanal creation of our collections and in the highly loyal relationship with our customers, which goes beyond the sale of a jewel.
Massimo Gismondi, CEO of Gismondi 1754
Compared to the turnover figures by sales channel, the item Special Sales still stands out, that is the sale of bespoke jewelery strongly devoted to tailor-made which, “in an economically complex historical phase due to the coronavirus pandemic, testifies the strong between the brand and its customers “. Overall, however, all the sales channels hold, as evidence of an increasingly consolidated recognition of the value of the products that has allowed Gismondi 1754 not only to absorb the difficulties of the retail channel (the stores in Milan and Portofino in particular), in times of lockdown, but to achieve a growth in turnover for the period.